The present invention generally relates to permissionless distributed databases, and more particularly to blockchains.
Currently blockchains are replicated ledgers of transactions that save their data in sequential data files. Transactions are verified in current blockchains by having multiple computer systems hash the data describing a transaction and when a majority of computer systems compute the same hash, the transaction is considered verified and added to the replicated ledgers. Current blockchain protocols elongates the time for transaction verification, as more computer systems participate in replicating the ledger.